Category: Demonetisation

DeMonetisation did not promote the uptake of digital transactions Driving India towards a less-cash, digital payments economy was one of the aims claimed by the Prime Minister when he invalidated 86% of India’s circulating currency. The reasoning was that India was a largely cash-based economy; if circulating cash was reduced, people would rapidly move towards …

A year on the Prime Minister’s Great Idea may have turned out to be a dud Mao ZeDong’s Great Leap Forward [1] has to be the most outstanding example of the devastating harm from the unintended consequences of a state policy that aimed to modernize and develop an entire country. It resulted in the deaths …

Was the demonetisation a success or failure? Various government claims and the subsequent lacklustre results leave no doubt that the demonetisation has resulted in no significant utility to the nation and caused considerable damage.

End of January marks the grape harvest season around Nashik. After falling prices after demonetisation led farmers to slash down standing tomato crops last month to make way for emergency sowing of wheat to eat, hope had rested on the grape crop coming up. However for all the reports in media about farmers adopting cashless …

There are multiple accounts of official spokespersons referring to the government using the money of citizens deposited into their bank accounts for development of infrastructure and other government spending. This is alarming. The money owned by individuals is not government property.